Bangalore, July 4, 2007: Globally, around 150 million adults suffered from diabetes in 2000. By 2025, the number of people suffering from diabetes is projected to touch 300 million, doubling from 2000 levels of 150 million. According to a recently released market research report published by Global Industry Analysts, the world diabetes diagnostics market is expected to reach $15.4 billion by 2010.

 

The United States represents the largest market, estimated at $3.8 billion. Europe is the second largest market followed by Asia. The United States, Europe and Asia (including Japan) collectively account for about 87 percent of the global share. The global and regional markets are expected to grow at CAGRs ranging between 10 percent and 13 percent. Diabetes testing supplies represent the largest segment with sales estimated at $7.8 billion in 2007.

 

Aging population in the western world, greater incidence of diabetes, population growth, growing disposable income, changes in lifestyle and diet, and genetic predisposition are some of the key factors influencing the market for diabetes diagnostics, therapeutics and devices.

 

The report indicates that growth in the diabetic populace is expected to be about 30 percent in developed countries, and 125 percent in developing countries. A steady increase in the number of people diagnosed with diabetes, along with intensive management and treatment processes/procedures is expected to sustain a high market growth rate in the diabetes diagnosis segment. Product categories such as blood glucose test strips, monitors, and lancet/lancet devices are expected to register significant growth rates. Market prospects continue to be relatively brighter in the hemoglobin A1c diagnostic device and electrochemical blood glucose test strips segment.

 

The global marketplace for diabetes medications, devices and supplies is highly competitive. Leading players worldwide offering blood glucose monitoring and testing systems include Abbott Diabetes Care, Bayer Healthcare, Bio-Rad Labs, Cholestech Corp, Home Diagnostics Inc, LifeScan, (a Johnson & Johnson Company), Medtronic MiniMed and Roche Diagnostics. Glucometer DEX, AccuChek, One Touch and SureStep are the leading brands in the world market.